Guides › Financial Advisor Fees
Updated September 19, 2026. Quick answer: Ameriprise is less expensive at $500,000: $10,000 a year, versus $15,000 a year for Mercer Advisors, computed from each firm’s own SEC-filed fee disclosure. At $1,000,000 it is the other way round, $20,000 versus $15,000. At $2,000,000 it is the other way round, $40,000 versus $21,000. See the full side-by-side table below for $250,000, $1 million and $2 million.
What each firm charges, side by side
| Account balance | Ameriprise (annual fee) | Mercer Advisors (annual fee) |
|---|---|---|
| $250,000 | $5,000 | $15,000 |
| $500,000 | $10,000 | $15,000 |
| $1,000,000 | $20,000 | $15,000 |
| $2,000,000 | $40,000 | $21,000 |
Ameriprise discloses a maximum, individually negotiated rate of 2.0% (Ameriprise Managed Accounts Client Disclosure Brochure (Wrap Fee Program), Form ADV Part 2A Appendix 1, June 2026); Mercer Advisors discloses a tiered schedule starting at 1.10% (Mercer Global Advisors Inc. Form ADV Part 2A Client Brochure (Custom Wealth / Wealth Management schedule), March 30, 2026).
What the fee includes, in each firm’s own words
Ameriprise (Ameriprise Managed Accounts Client Disclosure Brochure (Wrap Fee Program), Form ADV Part 2A Appendix 1, June 2026): “The Asset-based Fee is comprised of the total of (1) a negotiable Advisory Fee of up to a maximum annual rate of 2.0%; (2) a Platform Fee rate that varies by Program; and (3) any applicable Manager Fee.” 2.00% maximum Advisory Fee (SPS Advisor Program), before an additional Platform Fee of 0.02% to 0.05% and an Investments and Infrastructure Support Fee of 0.03% that can stack on top.
Ameriprise’s SPS Advisor program (its discretionary flagship) discloses only a maximum negotiated Advisory Fee of 2.0%, not a public dollar-tiered table; actual per-tier minimum rates are deferred to a private, non-SEC-filed Relationship Agreement not available to the public. The figures above apply the disclosed 2.0% Advisory Fee ceiling as a flat rate. On top of it, a Platform Fee (0.02% to 0.05% of assets) and an Investments and Infrastructure Support Fee (0.03%) can apply, which together push the all-in disclosed maximum to about 2.08% (roughly $5,200 a year on $250,000 instead of $5,000).
Mercer Advisors (Mercer Global Advisors Inc. Form ADV Part 2A Client Brochure (Custom Wealth / Wealth Management schedule), March 30, 2026): “WEALTH MANAGEMENT TIERED ADVISORY FEES, PERCENTAGE OF ASSETS MANAGED: First $1,000,000, 1.10%; Next $1,000,000, 1.00%; Next $3,000,000, 0.90%; Next $5,000,000, 0.75%; Over $10,000,000, 0.50%. Minimum Fee, $15,000.”
Mercer’s Custom Wealth tier carries a $15,000 annual minimum fee. The raw percentage math at $250,000, $500,000 and $1,000,000 (roughly $2,750 to $11,000) is overridden by that floor, so the actual billed fee at each of those balances is the flat $15,000 minimum; the percentage schedule only governs once assets are large enough to exceed it, which happens above roughly $1,360,000.
How this compares
Our benchmark of published adviser fee schedules puts the weighted median annual cost near $2,000 to $2,500 on $250,000 (the benchmark). At $500,000, Ameriprise runs $10,000 a year and Mercer Advisors runs $15,000 a year: a difference of $5,000 a year at that balance.
Want the full breakdown for either firm on its own? Read the Ameriprise fee page or the Mercer Advisors fee page for the complete tier table and source citations.
Thinking about leaving one of these firms instead of pricing what you would pay to stay? See what it costs to leave Ameriprise, or read the general mechanics of switching financial advisors.
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- Ameriprise Managed Accounts Client Disclosure Brochure (Wrap Fee Program), Form ADV Part 2A Appendix 1 (June 2026): https://www.ameriprise.com/legal/disclosures
- SEC Investment Adviser Public Disclosure, Ameriprise Financial Services, LLC (CRD #6363): https://adviserinfo.sec.gov/firm/summary/6363
- Mercer Global Advisors Inc. Form ADV Part 2A Client Brochure (Custom Wealth / Wealth Management schedule) (March 30, 2026): https://www.merceradvisors.com/disclosures/
- SEC Investment Adviser Public Disclosure, Mercer Global Advisors Inc. (CRD #147363): https://adviserinfo.sec.gov/firm/summary/147363
Methodology. This page was built September 19, 2026, re-pairing figures already archived and independently verified for Ameriprise and Mercer Advisors from each firm’s own SEC-filed disclosure; sources linked above. Nothing here is personalized financial, tax, legal, or investment advice. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.